VinFast: an IPO to be expected in the coming months
VinFast, this new manufacturer of electric vehicles that wants to establish itself in America, is aiming for the end of the current year with regard to the start of deliveries in Canada. However, the first units marketed here will not be built on North American soil, while the first factory on the continent will not open its doors until 2024. VinFast turns to public financial markets to finance its activities: the company has thus filed an application for listing on the stock exchange with the American financial authorities.
VinFast filed a request for a public tender offer (IPO) with the Securities and Exchange Commission (SEC) last Thursday, April 7, when the group plans to spend nearly 6 billion US dollars over several years in order to develop its factory complex located in North Carolina.
No exact date has been mentioned as of yet, but the company has still confirmed that this offer is scheduled for the second half of 2022. What’s more, the size of this offer has also not been announced. announced by VinFast, although it can be expected to be several billion US dollars.
However, we know the main reason behind this financial maneuver, as the President and CEO of VinFast, Le Thi Thu Thuy, said last week that everything was mainly going to be used to finance the factory complex mentioned above. high.
That said, this complex will be used in particular for the production of the VF 8 and VF 9 SUVs, in addition to ensuring the production of a bus model and batteries. Remember that these SUVs will be the brand’s first vehicles on our roads, while the company claimed some time ago that it had received more than 300 reservations for the Canadian market. These two models retail for $51,250 and $69,750 respectively and will likely offer 504 km and 550 km of range.
We should also remember the very controversial business model of the manufacturer with regard to the rental of the batteries of its vehicles. The manufacturer adopts a premise that the vehicle battery will quickly become obsolete, not because it will stop performing after a certain time, but rather because the new battery technologies available on the market at this time will make it possible to obtain significantly better performance at a more reasonable price. So what’s the point of completely changing the vehicle in order to obtain more electric range, if we can simply change the battery of our current vehicle?
